Back

Melbourne
VIC, 3031

Thinking about buying in Melbourne? Now could not be a better time, with 9281 residential properties there's certainly plenty to choose from. The average property price in this area is in the region of $1,148,000 with prices in this suburb ranging from $312,000 to $5,257,000. Melbourne is located fairly close to the coast at just 1Km so as well as great views of the ocean and access to beaches, demand and valuations are likely to be a bit higher here.

Household Makeup

Median Weekly Rent $406.46
Median Monthly Mortgage $2177.35
Median Persons Per Bedroom 0.90
Average Household Size 2.23
Average Age 35.85
Average Income $1136.65
Average Cars Per Dwelling 1.17
Average Properties Within 50M 103

Housing Stock

Average Property Prices

1 Bed  $734,000
2 Bed  $1,136,000
3 Bed  $1,787,000
4 Bed  $2,181,000
5 Bed  $2,672,000
6 Bed+$1,383,000

Melbourne Real Estate Market Outlook

Consistent high demand relative to supply is a key feature in Melbourne driving regular price increases. Recent rapid price increases however may constrain future growth by limiting demand. High average incomes in Melbourne ensure a focus on quality with a commensurate high entry price under constant demand. Competition for available quality housing is intense with multiple offers likely to be made in excess of asking prices. A mix of professions and above average income earners in Melbourne provides good demand. The lower than average housing turnover of these people also means fewer regular listings leading to periodic large price increases. Medium density in Melbourne necessitates a mix of lifestyle options for housing, shops, open areas, and facilties. Where this is available, demand is high and growth ensured. Higher than average industry presence in the wider area offering local employment yet with not a large negative impact on local amenity, provides good demand and price growth.

The capital city of the state of Victoria, Australia, Melbourne lies on Australia’s southern coast and holds the distinction of being the second most populous city both in the country and on the continent. A sprawling patchwork of green spaces and cityscape spanning nearly 10,000 square kilometres, nearly five million people call this rich, lively coastal city their home. For 26 years, from 1901 until 1927, Melbourne was the Australian seat of government and the nation’s de facto capital before it was relocated to Canberra to be as equidistant between the major settlements as possible. Built around the vast Victoria Harbour, as stunning as it is imposing, the city has developed into a centre of commerce, culture, and progress.

Melbourne’s economy is strong and incredibly diverse, stretching over a number of sectors. Its Central Business District, a metaphorical jungle of skyscrapers, is the second largest financial centre in the country; many companies’ regional, national or, in some cases, global headquarters are found in Melbourne, including two of Australia’s Big Four banks, the ANZ and National Australia Bank. Dotted throughout Melbourne are innumerable shops, restaurants, bars and other establishments, each contributing both to the value of the city and its unique character. Melbourne provides an excellent quality of life, being repeatedly lauded as the world’s most liveable city.

Melbourne is often referred to as the cultural capital of Australia; this culture can be found throughout the city, but it is especially present in sports. Melbourne is known to many as the nation’s sporting capital and plays host to 27 professional sports teams. The city has more to offer than just sports, however; the State Library of Victoria is one of the world’s most visited libraries and is famed for its early status as the home of many important figures in the world of literature. Melbourne’s population is very diverse and a number of cultural festivals with origins all over the world take place there, from annual comedy and arts festivals to religious celebrations.

Melbourne is a city of variety, and this is reflected in its property market. As a thriving city with such a large population, there is constant supply and demand for housing of all types, with properties for sale ranging from the exclusive examples of Victorian architecture for which Melbourne’s centre is famous to quieter and more modern housing in the suburbs, where property can be found with much smaller price tags. A city packed with character and excitement, green spaces and towering skylines, commerce and architecture and a remarkably rich history, Melbourne truly is a city that has something for everybody.

Houses for sale Melbourne

Belle Property UNIT 23, 16 BORONIA ST, KENSINGTON, NSW, 2033 Beds2 Bathrooms1 Parking 1 For Sale
PPD Real Estate UNIT 306E, 103-105 DONCASTER AV, KENSINGTON, NSW, 2033 Beds2 Bathrooms2 Parking 1 $1,000 PW
PRD UNIT 4, 25 DONCASTER AV, KENSINGTON, NSW, 2033 Beds2 Bathrooms1 Parking 1 Off Market Opportunity
R&W UNIT 503D, 250 ANZAC PDE, KENSINGTON, NSW, 2033 Beds Bathrooms Parking 1 For Sale $700,000 - $770,000
R&W UNIT 202E, 103-105 DONCASTER AV, KENSINGTON, NSW, 2033 Beds Bathrooms Parking 1 For Sale $699,000 - $749,000
Ray White UNIT 15, 1 BORONIA ST, KENSINGTON, NSW, 2033 Beds2 Bathrooms2 Parking 2 1200000
Ray White UNIT 8, 9-19 ELSMERE ST, KENSINGTON, NSW, 2033 Beds2 Bathrooms2 Parking 1 1100000
Ray White UNIT 911, 84-108 ANZAC PDE, KENSINGTON, NSW, 2033 Beds2 Bathrooms2 Parking 2 1650000
Ray White 62 DONCASTER AV, KENSINGTON, NSW, 2033 Beds3 Bathrooms2 Parking 1 2300000
Ray White 58 BALFOUR RD, KENSINGTON, NSW, 2033 Beds4 Bathrooms3 Parking 4 3300000
Ray White UNIT 408, GLEN EAGLES, 93 BROMPTON RD, KENSINGTON, NSW, 2033 Beds3 Bathrooms2 Parking 2 2500000
Ray White UNIT 7, 29-31 KENSINGTON RD, KENSINGTON, NSW, 2033 Beds2 Bathrooms1 Parking 1 900000
Ray White UNIT 1003, INNISBROOK, 97 BROMPTON RD, KENSINGTON, NSW, 2033 Beds3 Bathrooms2 Parking 2 2000000
Ray White 119 TODMAN AV, KENSINGTON, NSW, 2033 Beds3 Bathrooms2 Parking 0 2380000
Ray White 123 DONCASTER AV, KENSINGTON, NSW, 2033 Beds5 Bathrooms3 Parking 3 3300000
The Agency 5 DUKE ST, KENSINGTON, NSW, 2033 Beds4 Bathrooms1 $2,850,000

Local Schools

Kensington Primary School

Kensington Community High School

Holy Rosary School

Debney Meadows Primary School

St Brendan's School

St Aloysius College

Mount Alexander 7-12 College

Flemington Primary School

St Monica's School

St Michael's School

(While the above schools are located with the suburb of Melbourne there may also be nearby schools whose catchments cover this suburb)

Local Crime Rate

Incidents Trend State Average

We are currently collecting information for this location.

Melbourne weather - Average Local Climate by month

(mm)
RAIN
Min (°C)
TEMP
Max (°C)
TEMP
Min (%)
HUMIDITY
Max (%)
HUMIDITY
(m/sec)
WIND
(MJ/sq m)
SOLAR
Jan2.420.328.550.988.36.223.1
Feb4.120.227.552.787.86.020.1
Mar4.918.826.451.487.45.616.5
Apr3.515.623.949.486.95.014.0
May2.112.021.145.583.25.111.4
Jun4.110.018.350.886.15.29.2
Jul2.18.918.641.880.85.210.5
Aug2.09.419.636.878.15.713.2
Sept1.512.322.436.881.25.817.5
Oct2.014.824.141.484.16.021.0
Nov2.617.125.845.785.66.223.3
Dec2.018.927.446.786.46.224.6

source: Australian Government Bureau of Meteorology


Recently Sold Properties / House Prices

07-11-2024 $2,370,000 14 ELSMERE ST
05-11-2024 $1,150,000 6 / 18 HOUSTON RD
04-11-2024 $650,000 613 / 84 ANZAC PDE
04-11-2024 $672,500 14 / 7 ALISON RD
01-11-2024 $1,370,000 506 / 84 ANZAC PDE
31-10-2024 $5,400,000 49 MILROY AVE
30-10-2024 $4,400,000 31 BALFOUR RD
25-10-2024 $750,000 105 / 10 ANZAC PDE
25-10-2024 $1,555,000 21 / 28 BORONIA ST
21-10-2024 $730,000 5 / 239 ANZAC PDE
21-10-2024 $6,200,000 19 BAKER ST
18-10-2024 $1,700,000 101 / 97 BROMPTON RD
11-10-2024 $1,150,000 4 / 18 HOUSTON RD
11-10-2024 $1,300,000 607 / 84 ANZAC PDE
09-10-2024 $700,000 8 / 48 BORONIA ST
01-10-2024 $4,210,000 9 BARKER ST
01-10-2024 $1,145,000 3 / 25 DONCASTER AVE
25-09-2024 $4,500,000 52 COTTENHAM AVE
20-09-2024 $1,275,000 9 / 11 SALISBURY RD
20-09-2024 $1,530,000 59 TODMAN AVE
20-09-2024 $1,125,000 602 / 47 ANZAC PDE
19-09-2024 $644,000 4 / 17 VILLIERS ST
18-09-2024 $700,000 114 / 56 ANZAC PDE
12-09-2024 $1,750,000 306 / 93 BROMPTON RD
10-09-2024 $3,100,000 37 SAMUEL TERRY AVE
09-09-2024 $802,000 10 / 29 KENSINGTON RD
05-09-2024 $880,000 2 / 1 HOUSTON RD
04-09-2024 $935,000 8 / 159 TODMAN AVE
03-09-2024 $1,180,000 10 / 1 ANZAC PDE
29-08-2024 $4,180,000 28 KENSINGTON RD
29-08-2024 $712,000 7 / 7 DONCASTER AVE
26-08-2024 $1,121,000 5 / 11 SALISBURY RD
26-08-2024 $1,790,000 3 / 55 KENSINGTON RD
26-08-2024 $4,700,000 81 TODMAN AVE
22-08-2024 $1,150,000 17 / 1 GLOUCESTER PL
19-08-2024 $1,100,000 102 / 14 DARLING ST
16-08-2024 $762,000 35 / 20 BORONIA ST
14-08-2024 $685,000 11 / 274 ANZAC PDE
13-08-2024 $1,200,000 2 / 2 DUKE ST
12-08-2024 $810,000 3 / 45 BORONIA ST
09-08-2024 $1,120,000 9 / 22 VILLIERS ST
09-08-2024 $4,200,000 64 BALFOUR RD
09-08-2024 $675,000 3 / 7 ALISON RD
08-08-2024 $2,735,000 19 SALISBURY RD
08-08-2024 $4,850,000 58 TUNSTALL AVE
02-08-2024 $3,800,000 39 SAMUEL TERRY AVE
02-08-2024 $588,000 209 / 2 GOODWOOD ST
30-07-2024 $635,000 606 / 84 ANZAC PDE
26-07-2024 $3,725,000 149 DONCASTER AVE
26-07-2024 $676,000 23 / 274 ANZAC PDE

Internet Speed


Nearby Suburbs

KensingtonNorth MelbourneWest MelbourneTravancoreAscot ValeParkvilleFootscrayDocklandsMoonee PondsSeddon

Public Transport


General Points of Interest

Residz covers 12m+ Australian properties and brings together a wealth of data to give you a better understanding of an area. From crime and schools to bush fire, flood risk and more. Begin your search for properties for sale or learn more about where you currently reside. Residz is an exciting next-generation Real Estate platform getting better by the day!